U.S. Treasury Secretary nominee Janet Yellen is to warn that the country is on course for a major recession unless lawmakers “act big” with her Senate confirmation hearing set for today, less than 24 hours ahead of President-elect Joe Biden’s inauguration. The incoming administration has said it plans to reinstate travel restrictions on European and Brazilian passengers lifted by President Trump. In corporate news, food giant Danone is under activist pressure from Bluebell Capital, which is calling for a leadership overhaul citing a slump in share price performance. Meanwhile in tech news, computer accessory maker Logitech has raised its 2021 guidance after posting a near-200 per cent surge in Q3 income on the back of the work-from-home phenomenon. And in Rome, the political chaos continues with Prime Minister Giuseppe Conte facing a key confidence vote in the Senate. The government coalition was split after former PM Matteo Renzi withdrew his party’s support over an EU virus fund rift.

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